The standoff between the U.S. and China over Taiwan has thrown a spotlight on growing risks to one of the world’s busiest shipping lanes — even a minor disruption could ripple through supply chains.
While for some companies the concept of digital twins may be new, others in the manufacturing space have been using them for years now, proving not just their effectiveness, but also their ability to drive innovation in an increasingly competitive economy.
When semiconductor manufacturers shifted production to consumer electronics during the pandemic, fleet management notched another supply chain disruption among its daily struggles: vehicle availability.
Amazon showed its e-commerce and cloud-computing businesses can churn out revenue even as consumers worry about inflation and the company gets serious about curtailing expenses.
Russia’s invasion of Ukraine has supercharged the price of so-called clean ocean-going tankers, with soaring freight rates prompting companies to rush to purchase rather than rent vessels.
Amid strained supply chains, heightened consumer demand, increased regulatory scrutiny and looming economic factors, companies must monitor for changes and implement clear procedures to ensure product safety in today’s environment.